OTS calls for simplifying everyday tax for smaller businesses

A report by the Office of Tax Simplification (OTS) calls on the government to prioritise action to 'address long-standing concerns about the experience of smaller businesses'. The report considers the business lifecycle, especially those starting up and provides recommendations in five areas:

providing simple step-by-step guidance about the key things a business needs to do in its early days to help things run smoothly

improving the operation of the PAYE system

implementation of HMRC's Agents Strategy

improving the mechanics of the Corporation Tax return process

ensuring that tax changes are built on an understanding of business processes.

If you would like any help with your taxes at any stage of your business life cycle, please do get in touch.